Digital payments firm Pine Labs has acquired Shopflo Technologies, a direct-to-consumer checkout platform, for up to ₹88 crore in cash.
The board of Pine Labs approved the purchase of 100% stake in Shopflo on April 25, 2026, with the deal payable in one or more tranches and expected to close within three months. No regulatory approvals are required, and the transaction is not a related party deal.
Shopflo, incorporated in December 2021, develops online checkout platforms and e-commerce enablement services. Its turnover grew from ₹6.33 million in March 2023 to ₹147.35 million in March 2025, serving over 1,000 brands and 60 million consumers with 15-20% conversion rate improvements.
Pine Labs aims to integrate Shopflo’s tools into its payments infrastructure to offer merchants an end-to-end platform, including in-store payments, online checkout, consumer engagement, and data insights. The company’s online payments revenue increased about 50% year-on-year in Q3 FY26.
B Amrish Rau, CEO of Pine Labs, said the acquisition advances the buildout of a full-stack payments and commerce platform. Priy Ranjan, Shopflo’s co-founder and CEO, noted it addresses e-commerce checkout challenges.
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